China's Leshi says $890 million of debts due this year, shares drop 10 percent
China’s Leshi Internet said about 5.62 billion yuan ($890 million) of its debts would be due by the end of this year, or almost two-thirds of the company’s total loans and liabilities, sending its shares down for a ninth day. This is the first time the video-streaming firm – which is battling the fallout from a severe cash crunch at its founder Jia Yueting’s embattled technology conglomerate LeEco – has provided an estimate for its debt in 2018. Earlier, the company had said that a part of its total loans and financial liabilities of 9.29 billion yuan ($1.5 billion)would be due this year, without giving any further details.
Source:: https://finance.yahoo.com/news/chinas-leshi-says-890-million-debts-due-shares-050620810–finance.html
